Why does 2019 offer great opportunity for Home Improvement companies?

According to the National Association of Home Builders, remodeling spending across the country reached $172 billion in 2018. This blockbuster business show signs that an even larger opportunity exists for Home Improvement businesses this year as spending for owner-occupied single-family homes will rise by just 1.6% in 2019, followed by only a 1.1% rise in 2020. https://www.housingwire.com/articles/48237-nahb-home-renovation-spending-expected-to-boom-while-homebuilder-pockets-bust

Slow home sales to kick off 2019 is another sign that remodeling could be preferable in the current economic climate. The National Association of Realtors reported an 8.4 percent decline in units sold nationwide when comparing January 2019 to January 2018. https://www.nar.realtor/newsroom/existing-home-sales-drop-1-2-percent-in-january

This optimistic outlook should transfer to Pittsburgh as 53% of homes in the Pittsburgh Metropolitan Statistical Area were built before 1960 (2017 American Community Survey, Census.gov) and are potentially due for updates.

According to local market research company, Marshall Marketing, thousands of Pittsburghers are planning to pay to have remodeling done in the next 12 months. Electrical work, plumbing and lawn and garden work are the top three projects planned:

When a remodeling/contracting business is ready to market to these potential customers, there are many ways to put a message out: direct mail, online, TV, radio, outdoor, social media, internet display, email and more. Which one is best? In Pittsburgh the top two media types most all potential re-modelers have used in the past week are internet (94%) and local TV (89%).

For more specific advice on marketing a home improvement business in Pittsburgh, please contact WTAE’s Local Sales Manager, DJ Cavanaugh dj.cavanaugh@hearst.com 412-244-4498